How China's Capital Control Will Affect U.S. Real Estate Sales?
Chinese buyers have become a familiar and formidable force in real estate, both in the residential market as well as mega hotel or commercial deals. Now stricter capital controls from China threaten to dampen appetite or change the marketplace.
Late last month, China's State Council--the country's most powerful government body--sent a notice to all government departments requiring them sign off on all foreign acquisitions over $10 billion or $1 billion if it's outside of the acquirer's "core" business.